From HSBC and Volvo in Europe to Apple and McDonalds on Wall Street, first-quarter earnings are coming in thick and fast. But will they give lackluster stock markets a lift?
Still, a Le Pen presidency, which would trigger a constitutional crisis, has never been closer. And even if Macron wins, he cannot count on a majority in June’s parliament election. The yen’s 11% fall in the course of a month has prompted warnings from finance minister Shunichi Suzuki against rapid depreciation, putting markets on alert for an intervention. But BOJ Governor Haruhiko Kuroda has stuck to the view that yen weakness overall is a positive for Japan.
This so-called FAANG grouping benefited hugely from the low-rate, work-from-home environment. But with interest rates on the rise, their shares have cumulatively lost some $2.5 trillion in market value this year.